Nicholas Silvers & Dov Barnett Of Tavros Capital Lease 76,000 SF Retail Space To Chelsea Piers Fitness
250 Water Street
Building Size
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Asset Type
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Closing
May 14, 2026
AI
The asset involved in the transaction is a retail space located at 250 Water Street, situated in the Seaport District. The space spans 76,000 square feet and comprises a five-story fitness club with outdoor space. The transaction marks the leasing of this substantial area for a long-term agreement.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 250 Water Street
- Market: Seaport District
- Asset Size: 76,000 SF
- Landlord: Nicholas Silvers & Dov Barnett - Tavros Capital
- Tenant: David A. Tewksbury - Chelsea Piers Fitness
This lease agreement represents a significant collaboration between Tavros Capital and Chelsea Piers Fitness, facilitating an anchor establishment within a planned mixed-use tower. The involvement of Nicholas Silvers and Dov Barnett as landlords outlines their role in enhancing the Seaport District's commercial landscape.
Players
Market CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93